Impartial reviews on the latest products and how they can impact consumers.
July 2016 Zurich: CI
Zurich has radically reviewed its CI (critical illness insurance) offering, updating 50 conditions. It now covers a total of 85 conditions. For cancer – its main claims head (59% of all its CI claims), where it paid out almost £50m in cancer CI claims in 2015, as well as the main cancer definition, Zurich also now offers additional payments for 22 less advanced cancers, including skin cancer. It has also simplified the wording on its main cancer definition and has included an additional other cancers in situ definition to catch what it says are all other known early stages of…
read more »
June 2016 Unum: CI
Simplicity is Unum’s new group risk critical insurance policy for employers with 50 or more employees. All employees must join the scheme, as long as they are actively at work. Premiums are paid by the employer, but can be topped up by the employee in some situations. The plan guarantees cover for all employees under age 70, there is no medical underwriting and pre-existing conditions are covered. The policy covers just ten critical conditions and provides a minimum of £10K cover per employee. That can be increased, with five cover steps available, typically going up to a maximum of £60K…
read more »
June 2016 AXA PPP healthcare: PMI
A ‘fresh look at corporate health and wellbeing’ is how AXA PPP healthcare describes its new plan for medium and larger firms. The plan starts by encouraging firms to first think about their health and wellbeing strategies and to set specific objectives and measurement systems. There are then three elements to what Advance offers: Work Well. This element includes Health Gateway, which sets employees achievable goals, suggests manageable actions towards proven health outcomes and uses a Health Age Calculator to assess underlying health factors. Expert help through the Health at Hand service is available, as are various health discounts. The…
read more »
June 2016 MetLife: Other
MultiProtect plan is a new accident and hospital cover solution designed to help individuals and families to strengthen their financial safety net from a company best known for its group risk products. The new plan can also complement more traditional protection insurance products, effectively extending the range of cover. The plan is priced from £7 a month, with customers choosing to have from one (£7pm) to five (£35pm) ‘units’ of cover. Each unit of cover provides: A cash lump sum of £500 for a major broken bone. That is, arm; back; neck; hip; pelvis; cranium; mandible; shoulder, or wrist. £100…
read more »
May 2016 Royal London: WL
As part of its rebranding to bring everything under the Royal London label, the insurer has now relaunched the old Scottish Provident Pegasus whole of life plan, but has maintained the Pegasus tag. The plan itself is a simple whole of life plan that pays out on death or on diagnosis of a terminal illness. The plan can also include waiver of premium benefit. Cover can be level or increasing and premiums can be guaranteed or reviewable. Cover Increase Options allow the sum insured (for those accepted on standard terms) to increase by up to the lower of half the…
read more »
